Reinsurance

In the reinsurance segment, the premium volume written fell in 2015 by 6.5 per cent to € 1,112.1 million (2014: € 1,189.3 million). The volume of premiums earned (net, according to IFRS) also fell by 6.1 per cent to € 1,014.4 million (2014: € 1,080.9 million).

Operating expenses less reinsurance commission and share of profit from reinsurance ceded in the amount of € 8.2 million (2014: € 8.2 million) fell by 5.8 per cent to € 315.7 million (2014: € 335.1 million).